ALDAR Technical OverviewPosted on Tuesday, May 16 2017 at 4:26 am GMT+0000
Initial short term targets reached.
Long term neutral overview is obliging traders to wait for clear Bullish developments before preparing to materialize new positions. Moving to the medium term, a change in the outlook following the break above the 2.25 daily reversal level, has opened the way for an extended rally towards medium term targets at 2.33 and 2.45. That move confirmed the strength of the recently initiated near-term uptrend allowed for the activation of new longs. With the market reaching initial short term targets at 2.30 and approaching itself form the medium term ones, traders of both scales can trail stops to 2.25 protecting against any probable corrective wave.